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P&G Posts a Profit in Period,
Plans to Expense Stock Options

By

Sarah Ellison Staff Reporter of The Wall Street Journal

Updated Aug. 6, 2002 12:01 a.m. ET

Procter & Gamble Co. became the latest company to say it intends to expense its stock options, and in a sign that its restructuring program is working, the consumer-products titan swung to a profit in the fiscal fourth quarter and hit its growth targets a year ahead of schedule.

The maker of Tide laundry detergents, Pampers diapers and Pantene shampoo said it would prepare to expense its employee stock options in the fiscal year ending June 2004, but it urged the accounting industry to come up with a better way of...